Monthly electricity market report · MIBEL

Iberian electricity market — January 2025

Day-ahead price, demand and generation mix · ESIOS and OMIE data

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Average price

96.7 €

▼ −13.1% vs December 2024

Average demand

29.0 GW

▲ +6.1% vs December 2024

Renewables

57%

▲ +2 pp YoY · CO₂-free 79%

Negative periods

YoY

Day-ahead market price

The day-ahead market averaged 96.7 €/MWh, −13.1% versus December 2024. In perspective it sits +41.4% against the 11-year January average (68.4 €/MWh): a somewhat expensive month. The year-on-year figure (+30.5% vs January 2024) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → 0 €/MWh · 225 €/MWh

0 €/MWh

225 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 29.0 GW, +6.1% on December 2024 and +2.7% YoY, peaking at 40.0 GW.

Hour · GW

Generation mix

On about 23.6 TWh scheduled (P48), renewables made up 57% and CO₂-free generation 79%.

Generation mix

Eólica

Nuclear

Hidráulica

Ciclo combinado

Solar fotovoltaica

Cogeneración

Wind

31.8% +31%

Nuclear

22.0% +1%

Hydro

13.6% −21%

CCGT

11.5% +2%

Solar PV

10.1% +21%

Cogeneration

6.1% −15%

Other renewables

1.5% +19%

Pumped-storage

1.3% −12%

Coal

1.2% +8%

Solar thermal

0.4% −8%

Other

0.4%

Fuel / gas

0.0%

Historical context

202

January · €/MWh

Methodology

Price: ESIOS indicator 600 (Spain). Demand: ESIOS indicator 1293 (peninsular). Mix: P48 schedule by technology (REE/ESIOS), best estimate at month close — metered generation is published later; the check against the most recent metered month shows differences below 1%. Peninsular scope, full calendar month.